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Bitcoin and Ether entered November 2026 under pressure following a record USD 6.3 billion security breach at Binance. The incident triggered widespread liquidations, exchange withdrawals and renewed concerns about cryptocurrency custody, although both assets have partially recovered from their initial losses.
Hackers stole approximately USD 6.3 billion from Binance on October 29, making it the largest reported cryptocurrency theft. The breach immediately disrupted market confidence. According to CoinGlass, cryptocurrency liquidations reached USD 1.53 billion within 24 hours, including approximately USD 1.29 billion in long positions.
Bitcoin accounted for nearly USD 499 million in liquidations, while Ether contributed another USD 358 million. Binance itself recorded approximately USD 754.6 million in forced closures, representing 49.2% of market-wide liquidations.
Bitcoin fell toward USD 76,460 following the breach before recovering toward USD 78,500. The sharp decline reflected panic selling, leveraged liquidations, and uncertainty surrounding Binance's ability to restore normal operations.
The USD 76,000-USD 76,500 region remains an important near-term support area based on the recent lows. A sustained recovery above USD 78,500 could improve short-term sentiment, while another breakdown below USD 76,000 would increase downside risks. These are indicative levels rather than confirmed forecasts.
Ether dropped below USD 2,200 during the sell-off before recovering toward USD 2,240. Its USD 358 million in liquidations shows how leveraged positions amplified losses.
Ether faces an additional uncertainty: whether attackers convert stolen assets through Ethereum-based markets, potentially creating selling pressure. However, blockchain transfers do not automatically translate into exchange sales.
A recovery above USD 2,240 could signal stabilization, while a return below USD 2,200 would suggest continued weakness. Neither threshold establishes a reliable price target.
Reuters reported that Binance customers withdrew a net USD 3.64 billion, equivalent to 2.1% of the exchange's assets. Binance said withdrawals were stabilizing as services resumed.
The exchange reported USD 171 billion in assets and said it had replaced roughly USD 6 billion of the stolen funds, with the remaining portion involving less-liquid tokens. Analysts remain cautious. Standard Chartered's Geoffrey Kendrick warned, “I suspect the negative price action still has some way to go.”
Spot Bitcoin ETFs recorded USD 643 million in outflows following the breach, according to Reuters, reinforcing signs of institutional caution.
For both cryptocurrencies, exchange withdrawal trends, stolen-fund movements, derivatives leverage and ETF flows will matter more than a single rebound. Restored access and reduced liquidations could support prices, but selling or operational disruption could prolong volatility.
Also Read: How Inflation Expectations and Central Bank Decisions Affect Bitcoin
1. How has the Binance hack affected Bitcoin and Ether prices?
The reported USD 6.3 billion Binance security breach triggered widespread market uncertainty, contributing to selling pressure and leveraged liquidations. Bitcoin declined toward USD 76,460, while Ether dropped below USD 2,200 before both cryptocurrencies partially recovered.
2. How much was liquidated following the Binance hack?
According to CoinGlass data cited in the article, cryptocurrency liquidations reached approximately USD 1.53 billion within 24 hours, including USD 1.29 billion in long positions. Bitcoin accounted for nearly USD 499 million in liquidations, while Ether recorded approximately USD 358 million.
3. What are Bitcoin's important support and resistance levels after the Binance hack?
Bitcoin's immediate support region stands around USD 76,000-USD 76,500, based on its recent trading lows. A sustained recovery above USD 78,500 could improve short-term sentiment, while a decline below USD 76,000 could increase downside risks.
4. Can Ethereum recover above USD 2,240 following the market sell-off?
Ether could regain positive short-term momentum if it sustains a recovery above USD 2,240 and market liquidity improves. However, renewed selling pressure or a decline below USD 2,200 could signal further weakness.
5. How much money did customers withdraw from Binance after the hack?
According to Reuters figures cited in the article, Binance recorded approximately USD 3.64 billion in net customer withdrawals, equivalent to 2.1% of its reported assets. The exchange stated that withdrawals were stabilizing as services resumed, although investors continued monitoring fund recovery and exchange operations.
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